My understanding is that all info from "analysing volume" is stored in the MM database, and NOT as part of the file tag. This database is found in your MyDocs\MyMusic\MM directory and thus is likely deleted when you reinstall windows.

Try this:
Copy any mp3 file to some other location:
> copy any.mp3 c:\temp
Now run "Analyze Volume" on any.mp3 using mediamonkey.
Now compare the files:
> comp any.mp3 c:\temp\any.mp3
You'll find that files are not identical!
===> Something happend to the file while Analyze Volume process was running!
I think it's bad cause, for example, if I do incremental backup of all my mp3 files then after "Analyze Volume" the whole store will be backed up again!
Can anyone tell me where the "Analyze Volume" info is stored?

The mm help say about Volume Leveling: "By leveling the playback volume of a file as it plays in MediaMonkey based on a volume leveling coefficient that is pre-analyzed. This approach involves no modifications to the audio file other than a tag update..."

I was not happy with the fact that as a user I don't know the answer my self; so I searched for it. Now I'm not happy with the fact that I found - it is in the tag! - and so I wanted to warn all users: Analyze Volume operation modifies your files and not the mm db

Hmm, I actually like this feature... I have 3 different machines around my home that run MM and get their songs from a central file server. With the TAG having the volume levelling info, I don't need to level each song on each machine...

1. Analyze Volume - It Generates Peak Level calculates Gain level track per track. This option do not change in any way Audio Data stream it only just writes value in tag of files formats that supporte it (MP3, APE, MPC).

2. Level Track volume - Actualy first 'Analyze Volume' of the track and then Re-Encode it with Applied Gain Value to Level Track Volume.

I personaly Prefer First option on My existing and newly get MP3 files, but using Second when Riping Audio and When Burning Audio (In burning no changes are mage to source file).